SSG Capital to Buy 40 Percentage Stake in FSC

Stake picked up at Rs 580 cr; total valuation pegged at Rs 1,450 cr

Published: 08th April 2016 03:56 AM  |   Last Updated: 08th April 2016 03:56 AM   |  A+A-

NEW DELHI:  Kishore Biyani- led Future Supply Chain Solutions Ltd (FSC) has sold 40% stake to Singapore-based SSG Capital Management Group for Rs 580 crore at a valuation of Rs 1,450 crore. This will include 14% stake to be acquired from Future Retail Ltd (FRL) and the management team collectively, and 26% from another minority shareholder SKC 1 Ltd (SKC). SKC is part of Fung Capital, the PE investment arm of the families of Victor Fung and William Fung, the controlling shareholders of the Fung Group with businesses in trading, logistics and retailing.

SS.JPGThe company said in a statement that the deal would result in proceeds of about Rs 185 crore to FRL and the supply chain arm will enhance Future Retail’s overall business objectives. FRL will continue to a hold major stake of 57.4% in FSC.

FSC registered income from operations stood at Rs 408 crore and earned a net profit of Rs 25 crore in March 31, 2015. FRL currently holds 70.17% equity stake in FSC, with SKC holding 26% and the remaining mainly held by the management.

Bantry Capital of  Singapore acted as a sole financial advisor, the company said.

“It is a step towards our stated intent of optimal monetization of some of the investments held by FRL,” said Kishore Biyani, MD, Future Retail, which operates around 401 stores spread over 11.7 million square feet of retail space.

Stay up to date on all the latest Business news with The New Indian Express App. Download now


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp